US firm to start urea plant in Chandrapur district: Nitin Gadkari

NAGPUR: A US-based firm is likely to set up a Rs 6,000-crore urea plant in Bhadrawati near here as talks are in final stage in this regard, Union Minister Nitin Gadkari said here today.

"Negotiations with the concerned company have reached final stages and a number of meeting have been held with Chief Minister Devendra Fadnavis and Union Minister of State for Home Hansraj Ahir who represents the area (Chandrapur district)," the Transport Minister told reporters.

"A final meeting with WCL and all concerned Ministers and officials is scheduled later this month and it (the deal) will be finalised within a month," Gadkari said, adding that urea derived from coal is cheaper by Rs 10,000 per tonne.

He informed that state Finance Minister Sudhir Mungantiwar was in the process of finalising a proposal for setting up a farming unit for bamboos for making incense sticks, in the backward areas of Chandrapur and Gadchiroli.

"Presently, India is importing these logs from foreign firms at a whopping cost of Rs 40,000 crore per year. If this project picks up the import will be curbed, besides farming of bamboos will provide employment opportunities to local youths," the minister added.

Subscribe ETEnergyworld Newsletter

With petrol and diesel prices across the country having skyrocketed to historic highs, Sanjiv Singh, Chairman of the largest fuel retailer Indian Oil Corp (IOC) today faced a barrage of tough questions from the media during a press conference on the company’s fourth quarter results. ETEnergyWorld compiles the top highlights of the interaction. Edited excerpts..

This Website Uses Cookies

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services. Give your consent to our cookies for: